Singapore, a lot of people doing forex trading?
Added. But it all seems so quiet. 
hi , you guys still active ?
I can see your message
Im trading in Singapore!
Just update on my position.
Long EURUSD
@ 1.32035
@ 1.31762
@ 1.3200 (range)
Now waiting for a good price action to decide my next move
*all open trade @ 1 lot
u trade us time zone, no work tmr ?
Why long ? mind explain ? thanks
Im a Financial Consultant in Great Eastern.
Im using MA 5,13,34
MACD and MFI
Im a Technical Analysis trader.
@1.3205 MA5>MA13>MA34 at H4 time frame. (Long)
@1.3205 MFI is a green signal. (Long)
Green: The MFI increases and the volume increases. This means that the amount of participants entering the market increases, therefore the volume increases and the fresh incoming players align their positions in the direction of candlestick growth.Notice the long solid candles in the candlestick chart which indicates that the trend has begun and is picking up speed.
Do you hedge your positions using the same technical analysis strategies?
icic, TP n SL?
Nope i dont hedge. Im doing swing trade and position trade.
In short, im lazy lah. LOL
SL and TP is 50-100pips. But most of the time it depends on the position.
First, set a goal on the amount of pips u want to achieve in a week.
2nd, keep a trading journal, so u know what is your mistakes.
LoL.
If an hedge can provide some insurance coverage for your positions and increase the chances of profit, would you still be lazy?
Are your SL & TPs set equally? eg. 50 pip SL and 50 pip TP for each open position
I believe keeping a journal is essential in monitoring progress and to improve strategies.
But setting a weekly pip target might be counter productive.
If one sets a 100 pip target and today is Friday & zero pips were achieved the whole week, would one be gunning to make 100 pips that last night of the week? Is this both risky and unrealistic?
Pips are made on market conditions, price action that favours each individual’s trading style and everyday is at least, slightly different from the last.
This is my take, please feel free to share, newbie here looking to learn and understand more.
nice, u using which platform ?
Avatrade MT4
[QUOTE=“andrelee;516406”]LoL.
If an hedge can provide some insurance coverage for your positions and increase the chances of profit, would you still be lazy?
Are your SL & TPs set equally? eg. 50 pip SL and 50 pip TP for each open position
I believe keeping a journal is essential in monitoring progress and to improve strategies.
But setting a weekly pip target might be counter productive.
If one sets a 100 pip target and today is Friday & zero pips were achieved the whole week, would one be gunning to make 100 pips that last night of the week? Is this both risky and unrealistic?
Pips are made on market conditions, price action that favours each individual’s trading style and everyday is at least, slightly different from the last.
This is my take, please feel free to share, newbie here looking to learn and understand more.[/QUOTE]
Yes, i would strongly recommend hedging.
But personally i dont do it.
Setting SL and TP depend on how confident you are. Some are confident with 100pips, while some are satisfied with 30.
Weekly target allows me to concentrate and focus. If zero pips is achieved on Friday, instead of trading, what i will do will be reviewing my strategies.
Sometime, dont enter the market is also a gain.
I agree with the points you have made.
Do you only trade the euro dollar and GBP?
How does one select when and what currency to trade?
[QUOTE=“andrelee;516675”]I agree with the points you have made.
Do you only trade the euro dollar and GBP?
How does one select when and what currency to trade?[/QUOTE]
How well do you know about the PAIR you are trading?
EURUSD, for example. What kind of financial news will it affect this PAIR greatly.
For me, i know nuts about japanese yen, so i dont do it.
Yes, im a techinical analysis trader, but i will not venture into other PAIR if i cant master EURUSD.
[QUOTE=“Han;516754”]<img src=“301 Moved Permanently”/>
This is the new position i opened today. You can look into it.
Happy National Day![/QUOTE]
Can u please explain why u opened three trades on different ( but essentially correlated pairs )?
Is this part of a trading strategy or were they individual trades based on what the charts were showing u?m
Second question is, when u take multiple trades like this, do u even out ur risk or do u amplify it?
Finally, r u a scalper, intraday trader or a swing trader?
Thank u for ur answers in advance.
[QUOTE=“Nikitafx;516844”]
Can u please explain why u opened three trades on different ( but essentially correlated pairs )?
Is this part of a trading strategy or were they individual trades based on what the charts were showing u?m
Second question is, when u take multiple trades like this, do u even out ur risk or do u amplify it?
Finally, r u a scalper, intraday trader or a swing trader?
Thank u for ur answers in advance.[/QUOTE]
Im generally a swing trader.
As i have mentioned earlier, my strategy is on individual currency.
Risk of earning more pips is definitely amplified.